Bill Text: IL HB5273 | 2023-2024 | 103rd General Assembly | Introduced

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Bill Title: Amends the Property Tax Code. Creates a reduction in the equalized assessed value of property containing a qualified nursing home in an amount equal to 50% of the equalized assessed value of the nursing home property. Provides that a qualified nursing home is a facility licensed under the Nursing Home Care Act that is located in a census tract with a median household income of less than 150% of the federal poverty level and that has a resident population that is at least 90% Medicaid eligible. Effective immediately.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced) 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee [HB5273 Detail]

Download: Illinois-2023-HB5273-Introduced.html

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103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 HB5273 Introduced , by Rep. Stephanie A. Kifowit SYNOPSIS AS INTRODUCED:
35 ILCS 200/15-87 new
Amends the Property Tax Code. Creates a reduction in the equalized assessed value of property containing a qualified nursing home in an amount equal to 50% of the equalized assessed value of the nursing home property. Provides that a qualified nursing home is a facility licensed under the Nursing Home Care Act that is located in a census tract with a median household income of less than 150% of the federal poverty level and that has a resident population that is at least 90% Medicaid eligible. Effective immediately.
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A BILL FOR
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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Property Tax Code is amended by adding
Section 15-87 as follows:
(35 ILCS 200/15-87 new)
Sec. 15-87. Nursing home reduced valuation.
(a) Notwithstanding any other provision of law, for
taxable year 2025 and thereafter, property containing a
qualified nursing home is entitled to a reduction in its
equalized assessed value equal to 50% of its equalized
assessed value.
(b) Each qualified nursing home applying for a reduction
under this Section shall apply to the chief county assessment
officer of the county in which the nursing home is located in
the form and manner required by the chief county assessment
officer. The application shall specify the records required in
support of the application, and those records shall be
submitted to the chief county assessment officer with the
application form.
(c) As used in this Section, "qualified nursing home"
means a facility licensed under the Nursing Home Care Act that
(i) is located in a census tract with a median household income

HB5273 - 2 - LRB103 38024 HLH 68156 b
of less than 150% of the federal poverty level, as determined
using the poverty guidelines updated periodically in the
Federal Register by the United States Department of Health and
Human Services under the authority of 42 U.S.C. 9902(2), and
(ii) has a resident population that is at least 90% Medicaid
eligible.